- Spotify could increase subscription prices in the US, according to CEO Daniel Ek.
- Price hikes are expected to happen during 2023, Ek told The Wall Street Journal.
- Apple Music and YouTube have hiked their prices over the past week.
Spotify CEO Daniel Ek said on Tuesday he would like to increase the price of subscriptions for users in the US.
Ek's comments came after Spotify posted its third-quarter earnings, reporting increases in active users and paid subscribers, as well as a better-than-expected climb in revenue.
"Mostly to the US-based price increases, it is one of the things that we would like to do, and this is a conversation we will have in light of these recent developments with our label partners," Ek said during the earnings call on Tuesday.
Since Spotify was launched in 2011, it has charged $9.99 for its individual premium subscription and $15.99 for a family plan.
Ek said that when Spotify's competitors increase their prices, it's good for the company. He added that Spotify has raised prices in more than 46 markets around the world.
Ek said he felt "really good" about this upcoming year and "what that means in pricing in relation to our service."
In an interview with The Wall Street Journal, Ek said subscription price hikes should be expected in 2023.
Ek didn't disclose in Tuesday's earnings call or the interview with the Journal how much prices were set to jump.
The comments on future price hikes come a day after Apple raised the cost of its music and video streaming services for individuals from $9.99 per month to $10.99, and the family plan from $14.99 to $16.99 per month, CNN reported. YouTube also recently raised its premium family subscription from $17.99 per month to $22.99, per TechCrunch.
Spotify didn't immediately respond to Insider's request for comment on the potential price increases.
Ek also took to Twitter on Tuesday, accusing Apple of putting competitors at a disadvantage. Elon Musk replied to his tweet and suggested Apple's approach was "concerning." It comes amid Spotify and Apple's long-running dispute over the iPhone maker's App Store rules.
